BEIJING, April 7, 2021 /PRNewswire/ -- Food service is one
of the most important industries in China. The catering industry in China is quite valuable considering its large
market, fast growth in recent years, wide influence, and strong
ability to absorb employment. However, due to COVID pandemic in
2020, many restaurants have been forced to close their doors or
adapt to new customer demands.
Thankfully, with the pandemic controlled across China and strong government support, the
catering industry has gradually recovered nationwide. According to
experts, the total volume of China's catering market will return to 2019
levels this year and should continue to develop at a compound
annual growth rate of 7.2%. By 2023, it is expected to exceed
6 trillion yuan.
New companies are emerging every day in the race to seize market
share in China's restaurant space,
many seeking investment and operating partners to scale to a
nationwide presence.
Chinese business accelerator TOJOY is providing several of such
companies with the financing, local operating partners, and
business resources needed for such scaling, and all at a rate much
more rapid than traditional means. For foreign food and beverage
companies especially, TOJOY-facilitated agreements with investors
and operating partners across the country, is proving
invaluable.
You don't have to choose between delicious and nutritious.
Healthy, fresh eating is an emerging trend across China. One company seizing on the trend is
Norwegian salmon chain Pink Fish. Pink Fish co-founder Geir Skeie won the world chef Bocuse d´Or award
in 2009, and has committed to bringing award-winning Norwegian
seafood that is fast, healthy, and verified by blockchain to a
hungry customer base worldwide.
"The health benefits of seafood are unquestionable. It contains
higher protein and lower fat than other proteins," said Skeie in a
recent interview.
"Omega-3, in particular, is an important ingredient, which
promotes brain development and is also important for cardiovascular
health. The salmon in the Pink Fish meal has a much higher Omega 3
content than other brands, and we can monitor the whole salmon
raising and preparation process."
Pink Fish employs an IBM blockchain service to monitor every
step of its salmon's journey from egg to plate. Customers scan a QR
code at their table to see where their salmon was born, what it
ate, who raised it, and who transported it to Pink Fish.
This high-tech supply chain of healthy, award-winning food drew
TOJOY's attention when the company agreed to partner early this
year.
Complimenting a Good Meal with Good Wine
TOJOY is also answering China's
ever-growing appetite for world-class wine and spirits. "World's
Best Wine and Spirits" presents a collection of alcoholic beverages
from Eastern Europe, the United States, Canada, and Mexico to Chinese consumers. Through TOJOY's
sales platform, both end user consumers and local distributors can
access these specialty beverages more quickly and easily than
ever.
Local distributors have lauded World's Best Wine and Spirts for
its direct marketing, and its method for keeping prices lower than
the competition by reducing markups by middlemen. The transparency
provided through a centralized digital pricing method ensures
consistently high beverage quality, ensures product authenticity,
and reduces the pricing confusion that has plagued other methods of
nationwide beverage distribution across China.
In 2021, diners across China
are spending more than ever on food and beverage. This may be the
best time ever for brands to enter the industry in China. TOJOY is deploying its nationwide
network to enable more and more global brands to expand rapidly in
China through cooperative
development with trusted local investors and partners. For those
companies ready to grow and seize this huge market, it may be time
to feast.